18.May .2021 00:00

Ukraine Targeting US$435 M from Large-Scale Privatization in 2021

Ukraine Targeting US$435 M from Large-Scale Privatization in 2021
views 195
Back

It is planned to sell about 900 facilities as part of the large-scale privatization in Ukraine this year. In 2021, the State Property Fund plans to make US$ 435,705,720 (UAH 12 billion) on privatization.
 
"There are already more than 900 facilities pending privatization. The first quarter was quite successful. According to the results of the auctions, US$36,308,810 (UAH 1 billion) is to be transferred to the budget. We are waiting for this money ... The privatization mechanism works, we see that investor confidence has been restored," says Kostiantyn Koshelenko, Deputy Chairperson of the State Property Fund of Ukraine, Ukrinform reports.
 
According to him, the JSC United Mining and Chemical Company (UMCC) and the JSC First Kyiv Machine-building Plant are among the facilities being prepared for privatization.
 
"The UMCC consists of two mining and refining plants located in Dnipropetrovsk and Zhytomyr regions," said the deputy chairperson of the State Property Fund.

He also noted that the companies listed for privatization tended to have financial problems.
 
"They are not of strategic importance. They need investment because the equipment is worn out," Koshelenko said.
 
On February 4, 2021, the Parliament supported at first reading the bill lifting the ban on large-scale privatization auctions, imposed in 2020 in connection with the coronavirus pandemic.
 
On March 30, the Verkhovna Rada passed the bill at second reading.
 
In 2021, the State Property Fund plans to make US$ 435,705,720 (UAH 12 billion) on privatization.